“There’s no surprise, that’s the surprise.” Preface Cut your coat according to your cloth, because if you don’t, you will lose them both! Budgeting is an essential..

More time to release new faceless assessment schemes The scheme for faceless assessment for determination of arm’s length price under section 92CA, dispute resolution panel under section..

After filing the return, a taxpayer has an option to file a revised return or if not filed altogether, an option of filing of belated return. The..

New option to file ‘Updated Return’ after paying 25 – 50% additional taxes Under new section 140B, for filing an updated return, a taxpayer has to mandatorily..

SEZ administration to be reformed Necessary reforms are to be undertaken in Customs Administration of Special Economic Zones (SEZs) to make the same fully IT-driven and function..

No two-way communication in GST returns Section 38 has been substituted whose title is now ‘Communication of details of inward supplies and input tax credit’. The section..

Public infrastructure A new mission – ‘PM GatiShakti National Master Plan’ has been announced which will focus on the development of – Roads, Railways, Airports, Ports, Mass..

Prologue Governments run on taxpayers’ money. They have two major tasks – collect money from citizens by way of tax, and distribute it back to all citizens..